Published 5:30 am, Thursday, July 21, 2005

PHOTOGRAPHY

Kodak to lay off 10,000 more

Even as Kodak speeds down the digital-photography highway, the picture-taking pioneer is struggling to cope with a sharper-than-anticipated drop in demand for conventional silver-halide film — its cash cow for the last century. Its solution: Ax 10,000 more employees.

The newest job cuts, on top of 12,000 to 15,000 targeted 18 months ago, coincided with the disclosure of a quarterly loss — its third in a row. The overhaul will shrink Kodak's global payroll to less than 50,000.

Latest Business News

How to protect personal data on Facebook after data debacleFox2Detroit

Transform your outdoor space for springWBAL

Bella Thorne’s Workout Plan And How She TACKLES BulliesHollyscoop

Kroger pulling magazines covering assault-style weaponsWLWT

'Lady and the Tramp' to Get Live-Action RemakeWibbitz

Foxes Seen Playing on Trampoline in Snow in CroydonStoryful

Facebook Stock Drop a "Gross Overreaction"- Gene MunsterCheddar TV

ASSOCIATED PRESS

TAXES

Commission urges reform of system

WASHINGTON - A presidential panel said Wednesday that the alternative minimum tax, designed to snare affluent tax dodgers but now hovering over the middle class, should be abolished.

It's the first decision made by the nine tax experts chosen to analyze the nation's tax system and recommend changes to make it simpler, fairer and more economically efficient.

Commission Chairman Connie Mack, a former Florida senator, said the government's tax revenue could be replaced through changes in tax rates or tax breaks in the commission's recommendations to simplify or replace the tax system.

A few commission members said the panel should be careful not to let a few wealthy taxpayers avoid paying taxes by repealing the alternative minimum tax.

ASSOCIATED PRESS

TRADE

DeLay says House to vote on CAFTA

WASHINGTON - The House will vote on a proposed free trade pact with Central America and the Dominican Republic next week, House Majority Leader

Typically, the GOP-controlled House will not bring a bill up for a vote unless Republican leaders feel certain the legislation will pass. But House leaders stopped short of saying they have all the votes in hand Wednesday.

"It means we will have the votes," said Rep. Kevin Brady, R-The Woodlands, the point man on the pact lowering trade barriers with the region. "We're getting close. We wouldn't have scheduled it unless we felt confident."